New Age Metals (CVE:NAM) Stock Price Up 20% – Should You Buy?

New Age Metals Inc. (CVE:NAM) shares were up 20% on Saturday . The company traded as high as C$0.30 and last traded at C$0.30. Approximately 195,568 shares changed hands during mid-day trading, an increase of 116% from the average daily volume of 90,617 shares. The stock had previously closed at C$0.25.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.95 target price on New Age Metals and gave the stock a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$0.95.

New Age Metals Stock Up 20.0%

The firm’s fifty day simple moving average is C$0.33 and its two-hundred day simple moving average is C$0.25. The company has a current ratio of 52.48, a quick ratio of 17.88 and a debt-to-equity ratio of 0.74. The company has a market capitalization of C$19.93 million, a price-to-earnings ratio of -50.00 and a beta of 0.05.

New Age Metals Company Profile

New Age Metals Inc, a mineral exploration company, engages in the acquisition, exploration, and development of platinum group metals (PGMs), and precious and base metal properties in Canada. The company explores for rhodium, palladium, platinum, gold, nickel, copper, and lithium deposits. It holds interests in the River Valley PGE project located in the Dana and Pardo townships of Northern Ontario; the Genesis PGE project located in south central Alaska; and lithium projects situated to the northeast of Winnipeg, Manitoba.